Cedi’s year-to-date loss slumps to 4.09% as recent gains gather pace

The cedi's year-to-date depreciation has decreased to 4.09%, a significant improvement from 10.4% at the end of July 2026, according to Joy Business market data. Recent gains have also strengthened the currency's performance on monthly and weekly levels, with the cedi continuing its positive trajectory during the week of August 10-11, 2026.

This upward trend is expected to persist, supported by enhanced foreign exchange intermediation, Bank of Ghana market backing, inflows from the extractive sector, and offshore investor demand for Ghana's bonds. Easing demand pressures have further contributed to the cedi's gains, as noted by Dr Benjamin Amoah, a senior finance lecturer at the University of Ghana Business School.

He attributes the currency's recent improvement to the implementation of the Bank of Ghana's Foreign Exchange Management Framework, reflecting a marked turnaround from the cedi's challenging performance during the first half of the year due to strong dollar demand.